Missouri River Medical Center Board of Trustees March 28, 2017

Transcription

1 Board of Trustees March 28, 217 A regular meeting of the Board of Trustees of the Missouri River Medical Center was held on March 28, 217 in the Reach Education Room of MRMC. The meeting was called to order by Chairman, Mike O Hara at 3:5 PM. Members: Members present were Mike O Hara, Nikki Stovall, Mavis Engellant, Ross Rettig, and Larry Bauer. Also present were Louie King, CEO; Janice Woodhouse, COO-DON; Shari Dolan, CFO; Bryan Cartwright, IT; Shannon Walker, RN-ADON Infection Control; and Star Taylor, Recorder. Guests: Bethany DeBorde, with the River Press; Heidi Brandt, with Douglas Wilson & Company PC; and Bruce Houlihan, Benefis Controller. Final Audit Report: Heidi Brandt reviewed the FY16 audit with the board of trustees. She stated that there was a marked improvement from last year. There were a few things that were not being done such as reconciliations but that has been corrected. Minutes: Minutes of the February 21, 217 meeting were reviewed. MOTION: The MRMC Board of Trustees approve the minutes of the February 21, 217 meeting as presented. Motion was made by Larry Bauer, second by Nikki Stovall. Motion passed unanimously. Foundation Report: Mike stated that there was not Foundation report at this time. Board Action Items: Projects: CDBG: Bryan has been working with Larry on the Lions grant, which has been sent and received by national. Bryan and Larry met with one of the Great Falls Lions groups to promote our project and to ask for their support. Now that the financials are completed Bryan will begin working on the Murdock grant. The Amerisco Grant was approved. The new boiler is here and they are waiting for the ground to firm up before installing. The Chiller will be here May 1 st and we have leased it for 7 months. Page 1 of 3, Marcy 28, 217

2 Infection Control Annual Report: Shannon gave a detailed report in December and just reviewed activity since then. We have not had any facility transferred infections. Nursing Service Report: Janice reported that we just had a Life Safety Survey and we have not received the survey back. There were a couple of issues such as not having an emergency shut-off for the emergency generator and that we had too many tanks of O2 in the facility at one time. Since we need to have enough O2 on hand for all of our residents it was subjected that we have an outside storage area built. MOTION: The MRMC Board of Trustees approves building out-side storage for extra O2 tank storage. Motion was made by Mavis Engellant, second by Larry Bauer. Motion passes unanimously. Janice, Cindy, and Sam attending QA training at the MHA Spring Summit. Janice commented that it was intense training and that OA is taking a lot of time away from other issues. Financial Services Report: Financial Statement Gross Operating Revenue for February were $397,377 with Contractual Adjustments of -$17,36, other deductions of $194,337 and Operating Expenses of $4,525 which resulted in a net operating loss of $29,729. With the addition of tax subsidies and non-operating revenues, February ended with a net loss of $25,451. Our year-to-date gain is $441,72. Outpatient & Inpatient Services: Emergency Department visits were 35 for February. Physical Therapy visits in February were 222. Inpatient days were 1; Swing bed days were 47, Nursing Home days of 67for a total of 655 Patient days. Lab saw 155 patients, Radiology did 39 tests, and 5 CTs were conducted. Clinic Services: Benton Medical Center had 351 provider visits in February. Medicare is conducted a Medicare Secondary Payer (MSP) Audit and found 5 issues. We have 3 days to respond MACo Health Insurance is raising 16.8% for this next year. CEO Report: Louie requested to go into closed session. MOTION: MOTION: The MRMC Board of Trustees approves going into Executive Session. Motion made by Nikki Stovall, second by Mavis Engellant. Motion passed unanimously. The MRMC Board of Trustees approve coming out of Executive Session. Motion made by Nikki Stovall, second by Mavis Engellant. Motion passed unanimously. Page 2 of 3, Marcy 28, 217

3 MOTION: The MRMC Board of Trustees approves adjourning this meeting. Motion made by Nikki Stovall, second by Mavis Engellant. Motion passed unanimously. The next meeting is scheduled for Tuesday, April 25, 217 at 3:pm. Respectfully Submitted, Mike O Hara, Chairman Star Taylor, Recorder Page 3 of 3, Marcy 28, 217

4 Consolidated Balance Sheet For month Ended March 31, 217 Mar 17 Act Dec 16 Act Change CURRENT ASSETS Cash and Cash Equivalents $822,197 $447,948 $374,249 Net Patient Accounts Receivable 1,19,893 1,86,29 (615,317) Less: Allowance For Bad Debts (651,24) (643,478) (7,763) Other Receivables 64,742 52,639 12,13 Supplies Inventory 14, ,82 (42,798) Other Current Assets 52,99 21,249 3,85 CURRENT ASSETS 1,582,974 1,831,649 (248,676) ASSETS WHICH USE IS LIMITED Board Designated Cash and Investments 136, ,35 75 ASSETS WHICH USE IS LIMITED 136, ,35 75 PROPERTY, PLANT, AND EQUIPMENT Gross Property, Plant and Equipment 5,684,332 5,562,95 121,382 Less: Accumulated Depreciation (4,218,397) (4,228,48) 9,651 PROPERTY, PLANT, AND EQUIPMENT 1,465,935 1,334,92 131,33 OTHER ASSETS Other Assets - (121) 121 OTHER ASSETS - (121) 121 TOTAL ASSETS 3,185,334 3,32,78 (117,446) CURRENT LIABILITES: Accrued Compensation 285, ,28 (49,829) Accounts Payable 12, ,146 (291,898) Payable to Contractual Agencies Other Current Liabilities 8,289 5,975 2,314 CURRENT LIABILITES: 396, ,149 (338,763) LONG TERM DEBT Long Term Debt 413,619 (159,764) 573,383 LONG TERM DEBT 413,619 (159,764) 573,383 Total Liabilities 81,5 575, ,62 FUND BALANCES UNRESTRICTED 2,375,329 2,727,395 (352,66) FUND BALANCES 2,375,329 2,727,395 (352,66) TOTAL LIABILITIES and FUND BALANCE $3,185,334 $3,32,78 ($117,446)

5 Finance Report March 217 Financial Statements Statement of Operations Revenue: InPatient: In Patients 3 Total In Patient Days 7 Skilled Swing Bed Patients - 3 Total SSB Days 37 CAH LTC Patients 21 Total SNF Days 639 OutPatient: PT 235 visits Lab 175 patients 2,258 tests ER s 39 visits Clinic Visits 428 Rad 57 tests CTs 11 tests Contractual Allowances $11,443 Medicare $4,51 Medicaid $46,347 (Medicaid SB - $41,518) Clinic - $13,915 Other Insurance $44,677 Charity - $552 Employee Discount - $451 Provision for Bad Debt Bad Debt Allowance and Write-Off - $1,814 Bad Debt Recovered ($3,725) Other Operating Revenue Cafeteria - $2,123 PT Svcs to the School - $3,325 Expenses: Will report anything that seems unreasonable. Salaries: Down one provider 3 Payroll month Repair and Maintenance: Minimal repairs for month Purchased Services (Utilities): Weather related Clinic Expense: Extra payments to Benefis for Provider Svcs contract Depreciation: Monthly entry change, based on FY16 audit and new Dep Schedule Other Expenses (Insurance, Leases & Rentals, Travel, Educ, Postage, Dues): Watching and keeping to hat is necessary 1

6 Non-Operating Gain/Loss: Non-Operating Revenue - $241,154 Rent - $1,8 (Eye Doctor and Trailer) Interest - $275 RH Navigator Grant - $16 Comm Health Worker Grant - $1,635 Helmsley Grant - $36,46 Contributions (Strand) - $2, HIIN Support - $8 Discounts - $33 Other - $765 Non-Operating Expense - $11,583 Tele ER - $11,583 Balance Sheet Assets: Cash & Cash Equivalent $822,197 General Checking $8,338 Petty Cash - $4 Credit Card $13,479 Data Bank Account - $63 Patient Account - $7,867 Patient Refunds - $5 Net Patient Accounts Receivable Change in account charges, payments and contractual adjustments for the month. Other Receivables $64,742 Taxes Receivable - $7,74 Employee Receivables ($1,365) Other - $59,32 Supply Inventory Change in supplies purchased for the month and supplies disbursed to departments for the month. Other Current Assets - $52,99 Prepaid Expenses Insurance - $26,276 Service Agreements - $25,823 Board Designated Cash and Investments - $136,399 Property, Plant and Equipment - $1,465,935 Land - $93,94 Buildings - $2,731,85 Fixed Equipment - $26,87 Moveable Equipment - $2,273,624 2

7 Liabilities: EHR Software - $287,542 Construction in Progress - $27,589 Building of new rectory and architectural drawings Accumulated Depreciation ($4,218,397) Accrued Compensation This consists of Accrued Payroll, which is wages and benefits earned, but not paid, and accrued vacation and sick leave. Accounts Payable This is the amount paid for the current month s liabilities, but the checks were written in the next month. Also, contains AP which has been entered into the system, but the checks have not been written. Payable to Contractual Agencies This consists of In Patient Bed Tax Payable, which has accrued, but has not been paid yet. These payments are made annually to the State of MT for the IP Bed Tax In Patient - $65. Annual payment made in December Other Current Liabilities $8,289 Security Deposit Rental - $5 Employee Patient Accounts ($78) Resident Cash Payable - $7,867 Long Term Debt Intercap Loans - $417,515, Medicare Payable ($3,896) Fund Balances This is only adjusted at the time of the audit, as it takes into account the revenue on hand at the beginning of the fiscal year, plus revenues received during the year, less expenses equal ending fund balance. The Ending Fund Balance becomes the Beginning Fund balance in the next fiscal year. 3

8 Statement of Operations - Budget Comparison For month Ended March 31, 217 Current Month Year-to-Date Prior Yr Act 17 Bud 17 Var % Var Act 17 Bud 17 Var % Var YTD Actual Operating Revenues: In-Patient Revenue Acute $25,853 $29,16 ($3,253) -11.2% $261,495 $261,954 ($459) -.2% $ Skilled Swing Bed $4,128 $13,983 $26, % $365,1 $125,847 $239, % $ Long Term Care $146,575 $171,421 ($24,846) -14.5% $1,413,85 $1,542,789 ($128,984) -8.4% $ Out Patient Revenue 173,48 142,163 31, % 1,398,698 1,279, , % 1,374,632 Clinic Revenue $66,858 $68,345 ($1,487) -2.2% $563,78 $615,15 ($51,325) -8.3% $637,76 Total Gross Service Revenues 452, ,18 27,84 6.5% 4,2,878 3,825, , % 1,374,632 Deductions from Revenue Contractual Allowances 11,443 2,964 (17,479) % 322,942 26,676 (296,266) % 111,482 Net Patient Revenue 342, ,54 (79,675) -18.9% 3,679,936 3,798,486 (118,55) -3.1% 1,263,15 Provisions for Bad Debt (1,91) 13,59 14, % 183, ,531 (66,292) -56.4% 19,77 Net Patient Revenue Less provisions for bad debt 344,289 48,995 (64,76) -15.8% 3,496,113 3,68,955 (184,842) -5.% 1,153,38 Other Operating Revenue 5,448 1,1 4, % 14,853 9,9 5, % 9,374 Total Operating Revenue 349,737 49,996 (6,259) -14.7% 3,51,966 3,689,964 (178,998) -4.9% 1,162,754 Operating Expenses: Salaries & Wages 224, ,643 13, % 2,32,432 2,138,787 16,355 5.% 2,8,272 Employee Benefits 46,484 54,554 8,7 14.8% 428,535 49,986 62, % 48,963 Professional Fees 49,488 68,686 19, % 274,15 618, , % 322,929 Supplies 35,959 38,41 2,82 5.5% 357, ,369 (15,44) -4.4% 36,195 Repair & Maintenance 11,585 1,856 (729) -6.7% 95,55 97,74 2, % 13,95 Purchased Services 15,568 12,273 (3,295) -26.8% 15,979 11,457 4, % 15,281 Clinic Expense 23,53 11,633 (11,87) -12.% 175,838 14,697 (71,141) -67.9% 131,33 Depreciation 8,48 16,681 8, % 75,675 15,129 74, % 127,989 Interest & Amortization % 7,963 3,51 (4,462) % 1,933 Other Expenses 17,22 18,733 1, % 18, ,597 (11,782) -7.% 141,654 Total Operating Expenses 432, ,489 36,71 7.8% 3,733,914 4,225,41 491, % 3,856,424 Total Operating Revenue over Expenses (83,51) (59,493) (23,558) 39.6% (222,948) (535,437) 312, % (2,693,67) Non-Operating Revenue 241,154 22,759 (218,395) % 588,496 24,831 (383,665) % (46,943) Non-Operating Expenses 11,583 9,139 (2,444) -26.7% 74,329 82,251 7, % Tax Subsidy Revenue 17,344 53,65 35, % 314, , , % Net Income (Loss) 163,864 7, , % 65,584 64,728 54, % (2,74,613) Increase (Decrease) in UR Net Assets $163,864 $7,192 $156, % $65,584 $64,728 $54, % ($2,74,613) Contractual allowances and charity as a percent of gross patient service revenue 24.4%.7% -23.7% % 8.1%.7% -7.4% % 8.1% Provisions for bad debt as a percent of gross patient service revenue -.4% 3.1% 3.5% 112.9% 4.6% 3.1% -1.5% -48.4% 8.% Contractual allowances, charity and bad debt percent of gross patient service revenue 24.% 3.8% -2.2% % 12.7% 3.8% -8.9% % 16.1% Salaries and wages as a percent of total expenses 51.8% 5.6% -1.2% -2.4% 54.4% 5.6% -3.8% -7.5% 53.9% Salaries, wages and benefits as a percent of total expenses 62.6% 62.2% -.4% -.6% 65.9% 62.2% -3.7% -5.9% 66.4% Benefits as a percent of salaries 2.7% 23.%.23 1.% 21.1% 23.% 1.9% 8.3% 23.1% Operating Margin -23.7% -14.5% -9.2% 63.4% -6.4% -14.5% 8.1% -55.9% % Gross Profit 46.9% 1.8% 45.1% 255.6% 17.2% 1.8% 15.4% 855.6% % Operating EBIDA % -21.3% -1.3% -11.% 16.8% -4.% -1.3% 6.3% -61.2% -22.5%

9 Statement of Operations - Prior Year Comparison For month Ended March 31, 217 Current Month Year-to-Date Act 17 Act 16 Var % Var Act 17 Act 16 Var % Var Operating Revenues: In-Patient Revenue Acute $25,853 $17,63 $8, % $261,495 $278,91 ($17,46) -6.2% Skilled Swing Bed $4,128 $16,975 $23, % $365,1 $139,749 $225, % Long Term Care $146,575 $164,729 ($18,154) -11.% $1,413,85 $1,51,795 ($87,99) -5.9% Out Patient Revenue 173,48 168,359 5,49 3.% 1,398,698 1,374,632 24,66 1.8% Clinic Revenue 66,858 67,271 (413) -.6% 563,78 637,76 (73,296) -11.5% Total Gross Service Revenues 452, ,937 17, % 4,2,878 3,932,153 7, % Deductions from Revenue Contractual Allowances 11,443 48,363 (62,8) % 322, ,482 (211,46) % Net Patient Revenue 342, ,574 (44,195) -11.4% 3,679,936 3,82,671 (14,735) -3.7% Provisions for Bad Debt (1,91) 1,427 12, % 183,823 19,77 (74,53) -67.5% Net Patient Revenue Less provisions for bad debt 344, ,147 (31,858) -8.5% 3,496,113 3,71,91 (214,788) -5.8% Other Operating Revenue 5, , % 14,853 9,374 5, % Total Operating Revenue 349, ,754 (27,17) -7.2% 3,51,966 3,72,275 (29,39) -5.6% Operating Expenses: Salaries & Wages 224, ,288 (6,71) -2.8% 2,32,432 2,8,272 47,84 2.3% Employee Benefits 46,484 56,95 1, % 428,535 48,963 52, % Professional Fees 49,488 53,377 3, % 274,15 322,929 48, % Supplies 35,959 41,612 5, % 357,413 36,195 2,782.8% Repair & Maintenance 11,585 23,797 12, % 95,55 13,95 8,355 8.% Purchased Services 15,568 14,111 (1,457) -1.3% 15,979 15,281 (698) -.7% Clinic Expense 23,53 16,227 (7,276) -44.8% 175, ,33 (44,535) -33.9% Depreciation 8,48 14,221 5, % 75, ,989 52, % Interest & Amortization (195) % 7,963 1,933 (6,3) -312.% Other Expenses 17,22 33,651 16, % 18, ,654 (38,725) -27.3% Total Operating Expenses 432, ,28 39,42 8.3% 3,733,914 3,856, ,51 3.2% Total Operating Revenue over Expenses (83,51) (95,454) 12,43-13.% (222,948) (136,149) (86,799) 63.8% Non-Operating Revenue 241,154 1,62 231, % 588, , , % Non-Operating Expenses 11,583 (54,77) 65, % 74,329 23,472 5, % Tax Subsidy Revenue 17,344 2,113 (2,769) -13.8% 314,365 31,569 3, % Net Income (Loss) 163,864 (11,22) 175, % 65, , , % Increase (Decrease) in UR Net Assets $163,864 ($11,22) $175, % $65,584 $322,746 $282, % Contractual allowances and charity as a percent of gross patient service revenue 24.4% 11.1% -13.3% % 8.1% 2.8% -5.3% % Provisions for bad debt as a percent of gross patient service revenue -.4% 2.4% 2.8% 116.7% 4.6% 2.8% -1.8% -64.3% Contractual allowances, charity and bad debt percent of gross patient service revenue 24.% 13.5% -1.5% -77.8% 12.7% 5.6% -7.1% % Salaries and wages as a percent of total expenses 51.8% 46.2% -5.6% -12.1% 54.4% 53.9% -.5% -.9% Salaries, wages and benefits as a percent of total expenses 62.6% 58.3% -4.3% -7.4% 65.9% 66.4%.5%.8% Benefits as a percent of salaries 2.7% 26.1% % 21.1% 23.1% 2.% 8.7% Operating Margin -23.7% -25.3% 1.6% -6.3% -6.4% -3.7% -2.7% 73.% Gross Profit 46.9% -3.% 49.9% % 17.2% 8.7% 8.5% 97.7% Operating EBIDA % -21.3% -21.6%.3% -1.4% -4.% -.2% -3.8% 19.%

10 Cash on hand (beginning of the month) CASH FLOW PROJECTION Missouri River Medical Center Jan Feb March April May June July Aug Sept Oct Nov Dec Initial Total 183,12 183,12 374, , ,9 796, ,86 74, , ,4 115,752 87,12 665,26 721,8 Cash receipts Collections on accounts receivable UMIA Payments Mill Levy Funds Foundation/Other Donations Loan Proceeds 43,12 589, , , 425, 425, 425, 425, 425, 425, 425, 425, 5,283,54 UMIA pmts cease 5/218 Through 221 4, ,344 1,5 1,5 2, 1,5 1,5 1,5 1,5 1,5 2, 432, , 24, , , 321, Other NonOperating Revenue Rent, Grants, Interest , Total cash receipts 755,749 59, , ,65 427,15 625,65 427,15 427,15 427,15 427,15 427,15 625,65 6,482,178 Cash paid out Gross Wages Employee Benefits Health Insurance Professional Fees Supplies Repair and Maintenance 25,87 27, ,359 2, 2, 2, 2, 2, 3, 2, 2, 2, 2,582,396 22,225 22,371 17,231 22, 22, 22, 22, 22, 22, 22, 22, 22, 259,827 3,384 29,819 29,253 3, 3, 3, 3, 3, 3, 3, 3, 3, 359,456 26,371 24,71 49,488 2, 2, 2, 2, 2, 2, 2, 2, 2, 279,93 3,31 51,183 35,959 4, 4, 4, 4, 4, 4, 4, 4, 4, 477,452 7,87 8,457 11,585 7,5 7,5 7,5 7,5 7,5 7,5 7,5 7,5 7,5 95,349 Utilities 11,787 8,563 15,568 8,5 8,5 8,5 9, 9, 9, 8,5 9, 1, 115,918 Insurance 6,114 4,994 4,994 4,994 4,994 4,994 4,994 4,994 4,994 4,994 4,994 4,994 61,48 Leases & Rentals -3,9 1, ,5 1,5 9, 9, 9, 9, 9, 1,5 1,5 49,47 Clinic 4,477 17,1 23,53 15, 15, 15, 15, 15, 15, 15, 15, 15, 179,981 Depreciation -26,467 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 66,21 Interest -33 1, , ,64 Other Expenses 9,621 15,954 12,132 1, 1, 1, 1, 1, 1, 1, 1, 1, 127,77 Subtotal Operating Expense Intercap Loan Payments Medicare/Medicaid Cost Report Payable Reconcile GL Cash to County Reports due to outstanding checks Outstanding Accounts Payable Subtotal Balance Sheet Changes 37,457 4, , ,42 368,42 375,92 376,42 381,57 476,42 375,92 368,92 369,92 4,665,556 5 OS Loans - Maturity dates of 8 36,158 36, ,9 22,7 12,248 2, 2, 2, 2, 2, 2, 2, 2, 2, 2,298, ,9 22,7 12,248 2, 2, 2, 2, 236,158 2, 2, 2, 2, 2,334,313 Total cash paid out + Outstanding AP 564,357 62, ,36 568,42 568,42 575,92 576,42 617, ,42 575,92 568,92 569,92 6,999,869 Change in Cash 191,392-11,81 162,617 98, ,252 49, ,252-19, , , ,752 55, ,691 Cash on hand (at the end of the month) if all OS AP were paid 374, , ,9 796, ,86 74, , ,4 115,752 87,12 665,26 721,8 Days Cash on Hand Essential Operating Data Net Patient Revenue Accounts receivable (end of the month) Bad debt (end of the month) Inventory on hand (end of the month) Accounts payable (end of the month) Depreciation 554,953 22, ,349 1,117,71 1,635,824 1,285,782 1,19,893 4,112,499 6,622 3,935 1,814 12,371 14,284 14,284 14,284 14,284 14,284 14,284 14,284 14,284 14,284 14,284 14,284 14,284 1,251,48 193,9 22,7 12, ,155-26,467 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 8,48 66,21

11 Initial Jan Feb March April May June July Aug Sept Oct Nov Dec Inflows Outflow Avg.Cash 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % 5 Largest Expenditures - Annualized Gross Wages OS AP EmployBenefits/Health Ins Supplies Professional Fees